RE: STATMAN MIDWEEK COMMENTARY on BITCOIN (6540), The DOW 25,050, GOLD 1177 and a must see chart..."DO NOT DESPAIR!"

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STATMAN MIDWEEK COMMENTARY on BITCOIN (6540), The DOW 25,050, GOLD 1177 and a must see chart..."DO NOT DESPAIR!"

in cryptocurrency •  6 years ago 

I enjoy your reports but I'm not sure how accurate your sentiment gauge is.

Right now shorts for BTC are closing in on an all time high (https://www.tradingview.com/symbols/BTCUSDSHORTS/) and fear is at very high levels as well (https://alternative.me/crypto/fear-and-greed-index/)

I think we're looking at a short squeeze soon, followed by a slow descent back to mid to upper 5k's.

Love seeing your thoughts, thanks for posting.

cryptocurrency
6 years ago by

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      ·  6 years ago (edited)

    thank you...appreciated!.. that move from 5950 to 6550 was perhaps the "short squeeze"..Wehad lots more "pessimism" in late June..but I agree likely to visit mid 5's.

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        ·  6 years ago 

      I would tend to agree if I saw the shorts depleted, but they're still on the way up and haven't dropped the way they would in a squeeze. Whatever the high of that squeeze is, I'm guessing 6800-7200 is likely where we start making our way down to the mid 5s.

      Time will tell!

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          ·  6 years ago (edited)

        that is true..and we are at an important juncture..and that 6800 -7200 could be.!

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